Non-profit organizations constantly compete to attract and retain talented employees, and retirement plans are one tool that can be used to win that competition. While non-profits can sponsor other types of plans, such as 401(k) plans, the most common type for them to sponsor is a 403(b) plan. A 403(b) plan can be set up only for employees to make deferrals or for the employer to contribute as well. This article discusses several topics that we see non-profits struggle with understanding when creating or administering their 403(b) plans, and discusses a restatement opportunity deadline of March 31, 2020.
